Thursday, August 29, 2013

News and Tribune Reports Abatement Recommended for Menards in Jeffersonville

From the Clark County News and Tribune:

The cat is officially out of the bag.

The Jeffersonville Redevelopment Commission unanimously endorsed a favorable recommendation for a tax abatement for a new Menards location near Veterans Parkway and Hamburg Pike on Wednesday.

The vote on the recommendation was 4-0, with commission President R. Monty Snelling absent because of illness.

The redevelopment commission’s recommendation for the abatement must still be approved by the city council before it is officially granted to the home improvement superstore, which has about 280 locations throughout the Midwest.

The tax abatement would be for a term of 10 years, with the total amount of city taxes deferred from 100 percent reducing by 10 percent in each subsequent year, said Redevelopment Director Rob Waiz....

The city council had designated the area that Menards will occupy an economic development target area, which expands what types of businesses are eligible for tax abatements, at an Aug. 19 meeting.

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